Team based Non Financial Reward System will work best for the employees in a team.
Explanation:
There are two broad categories of rewards in any organization.
- Financial Rewards
- Non Financial Rewards
Financial Rewards are the rewards that include money from any aspect, either in the form of pay increment, bonus, overtime allowance, etc. But Non Financial Rewards are the ones that do not include any sort of money, rather it is totally concerned with the non tangible aspects of compensation. There are many non financial rewards. Some of these are as follows:
- Career Advancement Opportunities
- Job Enrichment
- Employee Recognition Programs
- Job Security
- Employee Empowerment, etc.
So when the bank has decided to initially reward the team with non financial rewards, then best suited non financial reward for them would be Career Advancement opportunities, employee empowerment programs, recognition programs, etc. Such programs will enhance the employees' morale and give them motivation to work together in a team or in individual capacity as well.
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Answer: True
Explanation: Knowledge comes through experience, how we relate to things, how observant we are to things about us, how we tend to interact with people will always determine how we know things. So yes logically what we know is as a result of how we relate and interact we people and things around us.
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